Monsanto rises 10% on delisting talk, company dismisses rumours

Shares of Monsanto India rose 10% to 2,035 on Thursday on speculation the company's parent may announce a share buy back to delist it from the local bourses. But, the company, in a BSE filing after trading hours, denied the possibility of a share buy back or delisting. "We would like to inform that such rumours are unfounded and baseless.

We categorically deny that the company is presently considering any proposal to delist or buy back its shares," Monsanto said. The rumour doing the rounds was the parent would offer 2,500 per share to buy back the shares. Monsanto Company and Monsanto Holdings together hold 72.15% stake in its Indian arm.